NGX WEEKLY ROUND-UP: Investors reap N121.07 billion profit

Investors in the Nigerian equity market enjoyed a profitable trading week earning N121.07 billion on Nigerian Xchange Group (NGX) as equity capitalization rose to N56.78trn from N56.46trn in the previous week.

This follows an increase of N454.86 billion in the previous week.

The stock exchange recorded gains on three of the five trading days of the week

Market capitalization rose to N56.46trn from N56.00trn in the previous week.

Likewise, the All-Share Index (ASI) rose +0.21% to close this week at 98,458.68 points from 98,247.99 points in the previous week.

The Nigerian equity market started the week on Monday 23 September 2024 with gains as investors earned N79.65 billion at the end of the trading session.

This trend continued on Tuesday, September 24, 2024 as investors recovered N104.57 billion at the end of the trading session.

The profit making session extended to Wednesday 25 September 2024 as investors earned an additional N240.67 billion at the end of the trading session.

Sellers returned to the equity market on Thursday 26 September 2024 as investors lost N266.55 billion by the end of the trading session.

The equity market closed the week on Friday, September 27, 2024 with a trading deficit as investors lost N37.28 billion by the end of the trading session.

READ ALSO:NGX: Caverton, Cadbury drag equity markets down as investors lose N266 billion

Meanwhile, the total transactions carried out by investors on the Stock Exchange floor this week was 3.318 billion shares worth N45.911 billion from 49,243 transactions, as opposed to a total of 1.860 billion shares worth N38.445 billion exchanged last week. in 40,228 transactions.

The Financial Services industry (measured by volume) led the activity charts with 1.430 billion shares worth N23.659 billion traded in 22,745 transactions; thus contributing 43.09% and 51.53% respectively to the total volume and value of equity turnover.

The Oil and Gas industry followed with 703.389 million shares worth N7.323 billion in 6,207 transactions.

Third place was occupied by the Health Industry with a turnover of 411.489 million shares worth N2.896 billion in 827 transactions.

Trading in the top three equities namely Japaul Gold & Ventures Plc, Mecure Industries Plc and Fidelity Bank Plc (measured by volume) accounted for 1.363 billion shares worth N9.472 billion in 4,050 transactions, contributing 41.06% and 20.63% to total turnover equity volume and value respectively.

Ellah Lakes Plc recorded the largest percentage increase in share price, namely 59.74%, followed by Regency Assurance Plc which also increased its share price by 53.33%.

Flour Mill Nig. Plc also increased its share price by 22.89%.

On the other hand, Caverton (Caverton Offshore Support Grp Plc) experienced the largest decline in share prices with a percentage decline of 27.37%, followed by Multiverse (Multiverse Mining And Exploration Plc) which experienced a decline in share prices of 19.64%.

Okomu Oil (Okomu Oil Palm Plc) also fell 13.10% in its share price.

By: Babajide Okeowo

The post NGX WEEKLY ROUND-UP: Investors reap N121.07 billion profit appeared first on Latest Nigeria News | Top News from Ripples Nigeria.

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